Bessemer Launches $1.85 Billion Fund

Bessemer Venture Partners is launching its tenth fund, BVP X, with $1.85 billion in capital.

The firm says its 14 partners has the decision-making autonomy to provide entrepreneurs with their first $1 million (or $50,000) as well as support late-stage companies with a $100 million check if necessary with this new fund.

Bessemer has offices in Redwood City and San Francisco.

Bessemer says it has helped 122 companies go public and funded over 200 companies in the technology and healthcare sectors. Some of these IPOs include: Shopify, WIX, Twilio, Box and DocuSign. It has also funded Pinterest, Skype, LinkedIn, Staples, Yelp and Dick’s Sporting Goods.

Bessemer has over $5 billion in management and first founded in 1911 as a family trust according to Wikipedia and became a venture capital firm in 1974. It is the oldest venture firm in the U.S.